Market Overview:
The global Group III base oil market is estimated to be valued at US$ XX Mn in 2018 and is projected to reach US$ XX Mn by 2030, exhibiting a CAGR of X.X% during the forecast period. The automotive oil segment is expected to account for a major share of the global Group III base oil market during the forecast period. The industrial oil segment is projected to register highest CAGR during the forecast period.
Product Definition:
Group III base oil is a refined and purified petroleum product used as a lubricant in various industrial applications. It is also known as paraffinic base oil, because it contains mostly saturated hydrocarbons with few aromatics. This type of oil has good thermal stability and low volatility, making it an ideal choice for equipment that operates at high temperatures or in extreme environments. Group III base oils are also less toxic and more environmentally friendly than other types of lubricants, making them a popular choice for many industrial applications.
4CST:
4CST, also known as octane number or n-octane, is a type of petroleum fuel. It has high octane content and low carbon chain length. 4CST can be produced from any hydrocarbon feedstock including crude oil, natural gas liquids (NGLL), and other refinery byproducts such as coke oven gases (COG), tar sand, coal bed methane (CBM) among others.
5CST:
5CST is the temperature at which the polymerization of isoprene in natural gas takes place. The higher the temperature, the more isoprene will be produced and it will have a positive impact on Group III base oil yield.
Application Insights:
The automotive oil segment accounted for the largest share of over 30.0% in 2017 and is projected to witness significant growth during the forecast period. Group III base oils are extensively used in engine oil applications such as motor oil, gearbox/gear lubricant, transmission fluids, brake fluids and coolants among others. The growing importance of vehicle maintenance along with rising environmental concerns regarding harmful emissions is expected to drive the demand for high-performance engine oils over the coming years.
Automotive lubricants are primarily used for two purposes; namely friction reduction between moving parts and protection against corrosion & oxidation caused by chemical interaction between molecules present in lubricant coating & metal surfaces (such as car body).
Regional Analysis:
Asia Pacific dominated the global group III base oil market in 2017 and is expected to continue its dominance over the forecast period. The presence of major automobile manufacturers such as Toyota, Honda, Nissan and Suzuki in Asia Pacific countries such as Japan, India, China and South Korea is expected to drive product demand. In addition, growing industrialization coupled with increasing spending on infrastructure development in emerging economies of Asia Pacific including India is likely to create numerous opportunities for industry participants over the coming years.
The European region accounted for a significant share of global group III base oil demand owing to high automotive production volumes across Germany, U.K., Italy and France coupled with stringent environmental regulations by various regulatory bodies like EEA (European Economic Area), JECFA (Joint FAO/WHO Food & Agriculture Organization) regarding vehicular emissions has resulted in increased Group III base oil consumption across Europe region over past few years.
Growth Factors:
- Increasing demand for Group III Base Oil from the automotive sector on account of its superior performance and low emissions.
- Growing demand for Group III Base Oil in the industrial sector due to its high thermal stability and low volatility characteristics.
- Rising popularity of synthetic lubricants over mineral oils, which is expected to boost the demand for Group III Base Oil in the near future.
- Rapid growth of end-use industries such as aerospace, marine, and power generation in developing countries such as China and India is likely to create new opportunities for Group III Base Oil market players over the next few years.
Scope Of The Report
Report Attributes
Report Details
Report Title
Group III Base Oil Market Research Report
By Type
4CST, 5CST, 6CST
By Application
Automotive Oil, Industrial Oil, Metalworking Fluids, Hydraulic Oil, Greases, Others
By Companies
ADNOC, BAPCO, Shell Pearl GTL, Exxonmobil, FUCHS, Neste Oil, Chevron, CNPC, Sinopec, SK Lubricants, GSCaltex
Regions Covered
North America, Europe, APAC, Latin America, MEA
Base Year
2021
Historical Year
2019 to 2020 (Data from 2010 can be provided as per availability)
Forecast Year
2030
Number of Pages
133
Number of Tables & Figures
94
Customization Available
Yes, the report can be customized as per your need.
Global Group III Base Oil Market Report Segments:
The global Group III Base Oil market is segmented on the basis of:
Types
4CST, 5CST, 6CST
The product segment provides information about the market share of each product and the respective CAGR during the forecast period. It lays out information about the product pricing parameters, trends, and profits that provides in-depth insights of the market. Furthermore, it discusses latest product developments & innovation in the market.
Applications
Automotive Oil, Industrial Oil, Metalworking Fluids, Hydraulic Oil, Greases, Others
The application segment fragments various applications of the product and provides information on the market share and growth rate of each application segment. It discusses the potential future applications of the products and driving and restraining factors of each application segment.
Some of the companies that are profiled in this report are:
- ADNOC
- BAPCO
- Shell Pearl GTL
- Exxonmobil
- FUCHS
- Neste Oil
- Chevron
- CNPC
- Sinopec
- SK Lubricants
- GSCaltex
Highlights of The Group III Base Oil Market Report:
- The market structure and projections for the coming years.
- Drivers, restraints, opportunities, and current trends of market.
- Historical data and forecast.
- Estimations for the forecast period 2030.
- Developments and trends in the market.
- By Type:
- 4CST
- 5CST
- 6CST
- By Application:
- Automotive Oil
- Industrial Oil
- Metalworking Fluids
- Hydraulic Oil
- Greases
- Others
- Market scenario by region, sub-region, and country.
- Market share of the market players, company profiles, product specifications, SWOT analysis, and competitive landscape.
- Analysis regarding upstream raw materials, downstream demand, and current market dynamics.
- Government Policies, Macro & Micro economic factors are also included in the report.
We have studied the Group III Base Oil Market in 360 degrees via. both primary & secondary research methodologies. This helped us in building an understanding of the current market dynamics, supply-demand gap, pricing trends, product preferences, consumer patterns & so on. The findings were further validated through primary research with industry experts & opinion leaders across countries. The data is further compiled & validated through various market estimation & data validation methodologies. Further, we also have our in-house data forecasting model to predict market growth up to 2030.
Regional Analysis
- North America
- Europe
- Asia Pacific
- Middle East & Africa
- Latin America
Note: A country of choice can be added in the report at no extra cost. If more than one country needs to be added, the research quote will vary accordingly.
The geographical analysis part of the report provides information about the product sales in terms of volume and revenue in regions. It lays out potential opportunities for the new entrants, emerging players, and major players in the region. The regional analysis is done after considering the socio-economic factors and government regulations of the countries in the regions.
How you may use our products:
- Correctly Positioning New Products
- Market Entry Strategies
- Business Expansion Strategies
- Consumer Insights
- Understanding Competition Scenario
- Product & Brand Management
- Channel & Customer Management
- Identifying Appropriate Advertising Appeals
8 Reasons to Buy This Report
- Includes a Chapter on the Impact of COVID-19 Pandemic On the Market
- Report Prepared After Conducting Interviews with Industry Experts & Top Designates of the Companies in the Market
- Implemented Robust Methodology to Prepare the Report
- Includes Graphs, Statistics, Flowcharts, and Infographics to Save Time
- Industry Growth Insights Provides 24/5 Assistance Regarding the Doubts in the Report
- Provides Information About the Top-winning Strategies Implemented by Industry Players.
- In-depth Insights On the Market Drivers, Restraints, Opportunities, and Threats
- Customization of the Report Available
Frequently Asked Questions?
Group III base oil is a type of mineral oil that is used in industrial applications. It has a low smoke point, so it is not recommended for use in cigarettes.
Some of the major players in the group iii base oil market are ADNOC, BAPCO, Shell Pearl GTL, Exxonmobil, FUCHS, Neste Oil, Chevron, CNPC, Sinopec, SK Lubricants, GSCaltex.
Chapter 1 Executive Summary
Chapter 2 Assumptions and Acronyms Used
Chapter 3 Research Methodology
Chapter 4 Group III Base Oil Market Overview
4.1 Introduction
4.1.1 Market Taxonomy
4.1.2 Market Definition
4.1.3 Macro-Economic Factors Impacting the Market Growth
4.2 Group III Base Oil Market Dynamics
4.2.1 Market Drivers
4.2.2 Market Restraints
4.2.3 Market Opportunity
4.3 Group III Base Oil Market - Supply Chain Analysis
4.3.1 List of Key Suppliers
4.3.2 List of Key Distributors
4.3.3 List of Key Consumers
4.4 Key Forces Shaping the Group III Base Oil Market
4.4.1 Bargaining Power of Suppliers
4.4.2 Bargaining Power of Buyers
4.4.3 Threat of Substitution
4.4.4 Threat of New Entrants
4.4.5 Competitive Rivalry
4.5 Global Group III Base Oil Market Size & Forecast, 2018-2028
4.5.1 Group III Base Oil Market Size and Y-o-Y Growth
4.5.2 Group III Base Oil Market Absolute $ Opportunity
Chapter 5 Global Group III Base Oil Market Analysis and Forecast by Type
5.1 Introduction
5.1.1 Key Market Trends & Growth Opportunities by Type
5.1.2 Basis Point Share (BPS) Analysis by Type
5.1.3 Absolute $ Opportunity Assessment by Type
5.2 Group III Base Oil Market Size Forecast by Type
5.2.1 4CST
5.2.2 5CST
5.2.3 6CST
5.3 Market Attractiveness Analysis by Type
Chapter 6 Global Group III Base Oil Market Analysis and Forecast by Applications
6.1 Introduction
6.1.1 Key Market Trends & Growth Opportunities by Applications
6.1.2 Basis Point Share (BPS) Analysis by Applications
6.1.3 Absolute $ Opportunity Assessment by Applications
6.2 Group III Base Oil Market Size Forecast by Applications
6.2.1 Automotive Oil
6.2.2 Industrial Oil
6.2.3 Metalworking Fluids
6.2.4 Hydraulic Oil
6.2.5 Greases
6.2.6 Others
6.3 Market Attractiveness Analysis by Applications
Chapter 7 Global Group III Base Oil Market Analysis and Forecast by Region
7.1 Introduction
7.1.1 Key Market Trends & Growth Opportunities by Region
7.1.2 Basis Point Share (BPS) Analysis by Region
7.1.3 Absolute $ Opportunity Assessment by Region
7.2 Group III Base Oil Market Size Forecast by Region
7.2.1 North America
7.2.2 Europe
7.2.3 Asia Pacific
7.2.4 Latin America
7.2.5 Middle East & Africa (MEA)
7.3 Market Attractiveness Analysis by Region
Chapter 8 Coronavirus Disease (COVID-19) Impact
8.1 Introduction
8.2 Current & Future Impact Analysis
8.3 Economic Impact Analysis
8.4 Government Policies
8.5 Investment Scenario
Chapter 9 North America Group III Base Oil Analysis and Forecast
9.1 Introduction
9.2 North America Group III Base Oil Market Size Forecast by Country
9.2.1 U.S.
9.2.2 Canada
9.3 Basis Point Share (BPS) Analysis by Country
9.4 Absolute $ Opportunity Assessment by Country
9.5 Market Attractiveness Analysis by Country
9.6 North America Group III Base Oil Market Size Forecast by Type
9.6.1 4CST
9.6.2 5CST
9.6.3 6CST
9.7 Basis Point Share (BPS) Analysis by Type
9.8 Absolute $ Opportunity Assessment by Type
9.9 Market Attractiveness Analysis by Type
9.10 North America Group III Base Oil Market Size Forecast by Applications
9.10.1 Automotive Oil
9.10.2 Industrial Oil
9.10.3 Metalworking Fluids
9.10.4 Hydraulic Oil
9.10.5 Greases
9.10.6 Others
9.11 Basis Point Share (BPS) Analysis by Applications
9.12 Absolute $ Opportunity Assessment by Applications
9.13 Market Attractiveness Analysis by Applications
Chapter 10 Europe Group III Base Oil Analysis and Forecast
10.1 Introduction
10.2 Europe Group III Base Oil Market Size Forecast by Country
10.2.1 Germany
10.2.2 France
10.2.3 Italy
10.2.4 U.K.
10.2.5 Spain
10.2.6 Russia
10.2.7 Rest of Europe
10.3 Basis Point Share (BPS) Analysis by Country
10.4 Absolute $ Opportunity Assessment by Country
10.5 Market Attractiveness Analysis by Country
10.6 Europe Group III Base Oil Market Size Forecast by Type
10.6.1 4CST
10.6.2 5CST
10.6.3 6CST
10.7 Basis Point Share (BPS) Analysis by Type
10.8 Absolute $ Opportunity Assessment by Type
10.9 Market Attractiveness Analysis by Type
10.10 Europe Group III Base Oil Market Size Forecast by Applications
10.10.1 Automotive Oil
10.10.2 Industrial Oil
10.10.3 Metalworking Fluids
10.10.4 Hydraulic Oil
10.10.5 Greases
10.10.6 Others
10.11 Basis Point Share (BPS) Analysis by Applications
10.12 Absolute $ Opportunity Assessment by Applications
10.13 Market Attractiveness Analysis by Applications
Chapter 11 Asia Pacific Group III Base Oil Analysis and Forecast
11.1 Introduction
11.2 Asia Pacific Group III Base Oil Market Size Forecast by Country
11.2.1 China
11.2.2 Japan
11.2.3 South Korea
11.2.4 India
11.2.5 Australia
11.2.6 South East Asia (SEA)
11.2.7 Rest of Asia Pacific (APAC)
11.3 Basis Point Share (BPS) Analysis by Country
11.4 Absolute $ Opportunity Assessment by Country
11.5 Market Attractiveness Analysis by Country
11.6 Asia Pacific Group III Base Oil Market Size Forecast by Type
11.6.1 4CST
11.6.2 5CST
11.6.3 6CST
11.7 Basis Point Share (BPS) Analysis by Type
11.8 Absolute $ Opportunity Assessment by Type
11.9 Market Attractiveness Analysis by Type
11.10 Asia Pacific Group III Base Oil Market Size Forecast by Applications
11.10.1 Automotive Oil
11.10.2 Industrial Oil
11.10.3 Metalworking Fluids
11.10.4 Hydraulic Oil
11.10.5 Greases
11.10.6 Others
11.11 Basis Point Share (BPS) Analysis by Applications
11.12 Absolute $ Opportunity Assessment by Applications
11.13 Market Attractiveness Analysis by Applications
Chapter 12 Latin America Group III Base Oil Analysis and Forecast
12.1 Introduction
12.2 Latin America Group III Base Oil Market Size Forecast by Country
12.2.1 Brazil
12.2.2 Mexico
12.2.3 Rest of Latin America (LATAM)
12.3 Basis Point Share (BPS) Analysis by Country
12.4 Absolute $ Opportunity Assessment by Country
12.5 Market Attractiveness Analysis by Country
12.6 Latin America Group III Base Oil Market Size Forecast by Type
12.6.1 4CST
12.6.2 5CST
12.6.3 6CST
12.7 Basis Point Share (BPS) Analysis by Type
12.8 Absolute $ Opportunity Assessment by Type
12.9 Market Attractiveness Analysis by Type
12.10 Latin America Group III Base Oil Market Size Forecast by Applications
12.10.1 Automotive Oil
12.10.2 Industrial Oil
12.10.3 Metalworking Fluids
12.10.4 Hydraulic Oil
12.10.5 Greases
12.10.6 Others
12.11 Basis Point Share (BPS) Analysis by Applications
12.12 Absolute $ Opportunity Assessment by Applications
12.13 Market Attractiveness Analysis by Applications
Chapter 13 Middle East & Africa (MEA) Group III Base Oil Analysis and Forecast
13.1 Introduction
13.2 Middle East & Africa (MEA) Group III Base Oil Market Size Forecast by Country
13.2.1 Saudi Arabia
13.2.2 South Africa
13.2.3 UAE
13.2.4 Rest of Middle East & Africa (MEA)
13.3 Basis Point Share (BPS) Analysis by Country
13.4 Absolute $ Opportunity Assessment by Country
13.5 Market Attractiveness Analysis by Country
13.6 Middle East & Africa (MEA) Group III Base Oil Market Size Forecast by Type
13.6.1 4CST
13.6.2 5CST
13.6.3 6CST
13.7 Basis Point Share (BPS) Analysis by Type
13.8 Absolute $ Opportunity Assessment by Type
13.9 Market Attractiveness Analysis by Type
13.10 Middle East & Africa (MEA) Group III Base Oil Market Size Forecast by Applications
13.10.1 Automotive Oil
13.10.2 Industrial Oil
13.10.3 Metalworking Fluids
13.10.4 Hydraulic Oil
13.10.5 Greases
13.10.6 Others
13.11 Basis Point Share (BPS) Analysis by Applications
13.12 Absolute $ Opportunity Assessment by Applications
13.13 Market Attractiveness Analysis by Applications
Chapter 14 Competition Landscape
14.1 Group III Base Oil Market: Competitive Dashboard
14.2 Global Group III Base Oil Market: Market Share Analysis, 2019
14.3 Company Profiles (Details – Overview, Financials, Developments, Strategy)
14.3.1 ADNOC
14.3.2 BAPCO
14.3.3 Shell Pearl GTL
14.3.4 Exxonmobil
14.3.5 FUCHS
14.3.6 Neste Oil
14.3.7 Chevron
14.3.8 CNPC
14.3.9 Sinopec
14.3.10 SK Lubricants
14.3.11 GSCaltex
